According to Cointelegraph: Bitcoin exchange-traded products (ETPs), which track the price or provide exposure to Bitcoin (BTC), now collectively hold over 1 million BTC globally, equivalent to almost $68 billion. This count includes the accumulation by eleven spot Bitcoin ETPs launched since mid-January in the United States and twenty-one other Bitcoin ETPs offered worldwide.
These exchange-traded products now hold about 5.08% of the current circulating supply of Bitcoin, which stands at 19,704,484 coins, according to CoinGecko.
Grayscale’s GBTC remains the largest fund holding Bitcoin, with around 289,040 BTC totaling approximately $19.9 billion. However, BlackRock’s iShares Bitcoin Trust (IBIT), with its holdings of 287,168 BTC worth around $19.8 billion, is closely tailing GBTC, and could potentially surpass it should the inflows stay steady.
Grayscale has lost around 330,960 BTC, which sums up to 53% of its previous holdings, since converting GBTC into a spot ETF in mid-January.
The continuous rise of BTC within ETFs results in questions regarding the impact on self-custody growth, as evident from stagnation in BTC held in various addresses. However, similar no-growth periods were observed from 2017 to 2018. As per LookIntoBitcoin, only 1 million addresses currently hold 1 BTC or more.
